Fall 2020 SOAP Workshop Presented by Student Association Senate CFO - - PowerPoint PPT Presentation

Fall 2020 SOAP Workshop

Presented by Student Association Senate CFO Morrison On Thursday September 10th 2020 SOAP

$$$ $$$ $$$

Student Organization Appropriation Process

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• The purpose of SOAP is to distribute funds collected from the General Activity Fee (GAF) to student
• rganizations on campus.

○ Organizations are able to apply for SOAP funds once per fiscal year. ■ The fiscal year is defined as starting on July 1st and ending on June 30th of the following year.

• Organizations complete a SOAP application and submit it to Senate CFO in the Fall semester.
• In Spring semester organizations will present and make the case for their budgets at SOAP Hearings.

○ Dates will be finalized soon, plan for a weekend in February.

• SOAP allocations are then recommended to the Student Senate by the SOAP committee.

Criteria for SOAP Funding

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• 1. Official SOAP application is turned in on time and signed by organization advisor.
• 2. An accurate record of income and expenses is maintained by organization.

○ The Finance Committee may audit an organization at any time.

• 3. Contact information is up to date with SLICE office.
• 4. An organization must be represented by at least one officer at SOAP workshop.
• 5. An organization must have at least 10 active members.

○ Eligibility for SOAP funding of smaller organizations must be approved by Finance Committee.

• 6. Additional requirements based on amount of funding:

○ $0.01 - $999.99 Fundraise 10% of SOAP allocation, SOAP Hearing optional ○ $1,000 - $2,999.99 Fundraise 15% of SOAP allocation, SOAP Hearing mandatory ○ $3,000 - $6,999.99 Fundraise 20% of SOAP allocation with receipts, SOAP Hearing mandatory ○ $7,000 - $9,999.99 Fundraise 25% with receipts, One outreach event per academic year, SOAP Hearing mandatory ○ $10,000+ Fundraise 40% with receipts, One outreach event per semester, SOAP Hearing mandatory

SOAP Funding Restrictions

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• SOAP funds may not be used for the following items:

○ Organization salaries ○ Events that exclude any student from attending ○ Persons who are not SD Mines students or alumni older than a year ■ Outreach events are the only exception ○ Personal equipment or merchandise that does not remain with the organization ○ Items facilitating fundraising ○ Food purchases

SOAP Allocation Decision Factors

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• The SOAP Committee will determine allocations based on the following factors:

○ Accuracy of budgets ○ Successfulness of fundraising efforts ○ Quality of SOAP Hearing presentation ■ Explain and validate budget ■ Show how organization has positive impact on student community ○ History of organization ○ Use of previous FY budget (>75%) ○ Impact of COVID-19

How to Spend SOAP Funds

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• Three main ways to spend SOAP:

○ Petty Cash ■ Works for expenses <$50 ■ Get reimbursed from Cashier’s Office ○ Check Requests ■ Most common and versatile ■ Work with business office ○ Purchase Order ■ Used for ordering items in bulk ■ Not accepted by all companies

• For questions on how to use funds please contact the Business Office
• Purchasing forms may be found here Purchasing Forms

SOAP Application and Deadlines

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• SOAP application will go live immediately following this workshop.

○ May be found here Resources and Forms

• SOAP application must be emailed to CFO Morrison as a signed PDF document before

midnight on Thursday December 19th. ○ This gives organizations a 10 week period to complete application.

• Walkthrough of new SOAP application.

Supplemental Funding

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• Additional funding is available to organizations if their current budget prohibits an expense.
• The process for applying is as follows:

○ Complete a supplemental application and email PDF copy to CFO. ■ Application found here Resources and Forms ■ Applications must be turned in at least 9 days before funding may be allocated. ○ Possibly meet with Finance Committee to discuss application and answer questions.

• Organizations are limited to $5,000 in any two consecutive fiscal years.
• New organizations that have not previously applied for SOAP are able to receive up to

$750 in supplemental funding.